In the ever-changing real estate rental market—and especially now during the COVID-19 pandemic—a challenge many landlords face is adjusting their marketing plans to attract millennial renters.
While millennials are currently the largest body of renters in the market, their methods of finding a property differ from previous generations dramatically. They have paved the way for a complete overhaul of traditional tenant expectations for how the rental experience should be. In some ways, during this time of social distancing as the new norm, this is a silver lining.
A majority of millennials appreciate the ease and flexibility of renting—and all the perks that come with it, including landlord-managed maintenance. If you're expecting to attract this generation of renters, you need to develop a solid strategy for how to approach them with your rental property. Here are some tips from the experts in Leesburg property management services to help you get started!
Attract Millennials to Your Rental Home the Right Way
The old-time methods of direct mail and traditional marketing do not have the same impact on this tech-driven generation that they used to: the modern rental listing requires familiarity with all things online. While our contact with others to protect the most vulnerable members of our community is currently limited, this preference for an online approach to renting works out in your favor!
Interestingly, this trend for a technological approach has had an impact on other generations of renters, too: Generation X and Generation Z renters also prefer to lean on online resources to find their next rental home. When you take advantage of marketing techniques that appeal to millennial renters, you often cast a net that can attract other age groups as well.
When listing online, it's crucial that you capture your Leesburg rental home with beautiful pictures and write a captivating description of your property. Millennials are used to scrolling past laughable real estate photos—or worse, making them go viral—so don't let this be your listing! Take the time to brush up on some photography basics before you capture any snaps of your rental home.
Keep in mind that if you're struggling with getting all the information you need to create a compelling listing or having difficulty with getting the perfect property photos, this is just one of the many areas in which Leesburg property management services can help you successfully market your investment home!
Take Advantage of Social Media
This one might not be intuitive for many landlords, but it can be one of the most powerful when attracting millennials and even Generation Z renters to your property. Social media has become one of the cheapest and most effective ways to gain exposure for your properties. Millennials spend hours per day surfing social feeds on various platforms—so why wouldn't you market here?
The best way you can ensure exposure for your units on social media is by launching ad campaigns on platforms like Facebook or Instagram. If you can, use a video with the former for better results; on Instagram, beautiful visuals are king. Regardless of which site you choose to market on, using the correct media and formatting will help maximize your reach.
What Are Millennials Looking For?
There are several home amenities and features that stoke the hearts of millennials. As a group, they are interested in housing that can help them:
- Reduce their ecological footprint
- Build a sense of community and belonging
- Provide convenient proximity to nature and culture
- Reduce their commute or provide easy access to transport.
By marketing your unit in a way that highlights the primary features it can offer active millennials based on these categories, you’ll encourage them to come and view your rental property in person—which is often the hardest step.
Finding out what makes your rental unit shine will require some research on your part, but as long as you keep the items above in mind, you should be able to develop a marketing plan that works! Of course, we also understand that most landlords have a full-time job already in addition to managing their rental homes. In that scenario, taking advantage of Leesburg property management services to market your rental can be the smart move!
How Leesburg Property Management Services Make Life Easier
Instead of learning how to become a rental marketing master and doing lots of in-depth research into the psychology of millennials, trust a Leesburg property management company to have already mastered the art of rental listings for you!
Better yet, a property management company goes beyond marketing: they handle everything for you! Whether it's filling vacancies, providing timely maintenance, ensuring legal compliance, or making sure your property rents for the right rate, your Leesburg property manager can do it all—especially if you rely on Gunn Property Services! We are truly your local expert in the Leesburg area of sunny Florida!
Marketing outside of the Orlando bubble can be challenging for many landlords, even though this works out in your favor: more millennials are choosing the suburbs over the city when it comes to their rental home! Thankfully, you have Gunn Property Services here to help you through. As a family-owned and operated property management provider, we know how important your rental income is to you and your family.
Let us be your guide to the Leesburg rental market: get in touch with us today to put our expertise to work for you!